Two convicted for POCA breaches

 

Two men who were nabbed attempting to leave the island with large sums of US dollars were convicted before the St. James Parish Court last week. 

 

The men pleaded guilty to breaches of the Proceeds of Crime Act (POCA) following an investigation by the Jamaica Customs Agency (JCA) and the Financial Investigations Division (FID).

 

Investigators reported that one passenger who was en route to Curaçao declared US$64,408 to customs officers and stated that the funds were received from a Montego Bay-based wholesale for goods supplied by his warehouse. 

 

Two days later, another traveller heading to the same destination, accompanied by a minor, declared $50,000, similarly claiming it had been collected from the same Montego Bay-based establishment in relation to goods supplied to them from the Curaçao based company.

 

Both men were referred to the FID, charged under Section 101A of POCA and brought before the court on Tuesday.

 

They each pleaded guilty and refined $200,000. 

 

Cassell Dunkley, Director of Investigation at Jamaica Customs, said the incidents underscore the agency's vigilance in protecting Jamaica's financial system from abuse and serve as a reminder to travellers and business operators of their legal obligations and to use the formal banking system.

 

"I want to use this medium to remind importers, buyers, all business people within the island of Jamaica, that transacting cash businesses in excess of $1 million or more, or its equivalent, is a breach of the Proceeds of Crime Act, Section 101A. Persons who fail to comply will face the judiciary because it is a breach," he warned.